The New Generation Of Banging Hardtechno

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addition, Fang Xingdong either their own or are familiar with him, agreed that he was a scholar or scholars, but not well versed in management and strategy, business leaders, there is no control over hundreds of millions of dollars the team and the level of funding. Blog Web2.0 era, as a product development process is undoubtedly the Internet, a big leap into the lead from the media, the Internet era, the blog itself is a success. But for the blog network, it allows investors of dollars for naught, from the leading pioneer of Web2.0 as no one is interested in the outcast, is undoubtedly the failure of the failure.
2002 years, Cui Jianping founded the Beijing Wide Network Technology Co., Ltd. (hereinafter July 2004, wide network of overseas holding company - Asia Bermuda established in the British Interactive Media. Asia Interactive Media, claiming to be
delisting, so that financial investors, while 11 missed, lost out platform. Sequoia Capital, as the company's second-largest shareholder, still holds 9.19% of the shares, only in May 2008 this year, 1.34% of the shares sold; and ten other shareholders do not have a history of share transfer.
Second, was first established, the company received more than 5,800 well-known venture capital financing million first phase, the main investors invest 1,800 million dollars Walden, DCM investment of 1,000 million U.S. dollars, Intel Capital invested $ 7,000,000, NEA invested 500 million U.S. dollars, other investors include Sycamore Ventures, Morgenthaler Ventures, Jerusalem Venture Partners, Sumitomo Group, an investment company Presidio Venture Partners, STAR Venture, Hitachi, Itochu, Shanghai Alliance Investment Co., Ltd., etc. and so on.
2006 third quarter, PPG received TDF, and JAFCO Asia (JAFCO Asia) in the first round of the joint investment of $ 6,000,000. April 2007, PPG received a second round of the millions of dollars of investment, in addition to the first round of the TDF and JAFCO Asia, additional investment, but also introduced the KPCB (KPCB), KPCB is the largest U.S. venture capital Fund, and the Sequoia par. In the years 2006 -2007, e-commerce is very popular in the VC investment cycle, and PPG is one of the best, star of the project can be described as absolute, and numerous colleagues are the envy of the few lucky enough to invest into the VC.
VC lesson: Since the IPO is the best exit route, listed the children on the early realization of Paolu

2009 年 5 月, etang.com domain name renewals are due no public auction, the final bidder for $ 35,000 in the price bid.
entrepreneurs learned: One of the aims is to start making money, but you can not just make money
VC lesson: due diligence in investigating human nature is the most difficult and most important
First, the company founder and CEO is the former COO Zheng Changxing China Netcom, the management team there are the original Chen Shuo, vice president of Huawei network products and wool, general manager of River Forest, for the origin wealthy;

2007 年 4 months, the Asian media in the Tokyo Stock Exchange, according to market prices, this investment has brought to the sails nearly 7-fold return on investment.
Etang network overnight, turned out to conquer new territories rapidly in the major universities in the country quickly recruit staff, and the publicity around the huge size of rallies. The end of 2000, the Internet's winter sudden Etang burned most of the money is still not profitable. From 2001 to 2003, continued through the Etang and professional company, launched a hand-bags, backpacks, condoms, underwear and other daily necessities, and also available online on the line, but also quietly trying to phone the wireless business. After two years, relying on the Etang SP business linger, only to give the user an impression that a CET (four, six) test site official news release.
Subsequently, the So in just six months, the blog network of more than 40 people from the expansion of staff to 400 people, reported 60% -70% of the funds are spent on staff wages. While also videos, games, shopping, social and many other projects, a lot of money-burning, squandered millions of dollars will soon be exhausted. Thus opened a blog network for 3 years, the personnel upheaval, the overall loss of nearly level, and Fang Xingdong my CEO position was replaced by a decision-making group. The end of 2006, the blog network of staff has been cut back to the original financing more than 40 individuals.
Shang Yang Technology
delisting Asian media exposed the VC investment in the three questions: First, due diligence, and some VC feel that they are cattle, there have been what the success is very sloppy due diligence; Second, investment in the future, regulatory is very important. Companies listed, the money can take it even further, this is unthinkable. CEO spend a lot of capital to the board to make decisions, investors do not act, it is unforgivable mistake; the third is no current legal and institutional bottom line for these people who dare to challenge the law with sufficient deterrence and punishment, can not give adequate protection to investors, VC will have to know before investing, all of the legal document is just investigation is particularly important, and this is the most difficult.
Etang

VC's lesson:
in the Internet industry, a company cited the birth and death is difficult to people's attention, but the company certainly is an exception: it was once the upstart, high-profile birth; it nothing, even the domain names have come down to be auctioned. The company is the Etang (etang.com).
2008 年, PPG pattern emerged VANCL (where customers Eslite), excellent shirt nets, CARRIS every family and dozens of imitators, PPG industry leader not only lost the status of lawsuits, executives dispersed, more outgoing Liang said the founder of a 舒款 absconded. Liang said that from 2008 to the United States since the middle of preparations for opening of U.S. companies matter has not been in the country after the appearance.
entrepreneurs learned: beat the market is not terrible, just terrible by our own internal collapse
entrepreneur lesson: No amount of money, they have to save our flowers, or winter, not too
known RedHerring Technology magazine as one of Asia's top 100 private companies, and its goal is to become the leader in next-generation communications service platform (NGSP) provider, is committed to open the boundaries, Main business is value-added solutions for fixed, broadband wireless solutions and enterprise communications solutions, and several other areas. At that time, telecom operators are also prepared to value-added services on a big one - China Telecom, provide a huge space for development. Although the sun still has a few good core business, such as UU language letters, but they failed to seize market opportunities. 2 years after the inception of poor management as the company, Zheng Changxing forced to In the market with real-time communication not only prominent Microsoft MSN, Skype and Google talk and other transnational giants competition, but also the face of domestic QQ, Sina,[link widoczny dla zalogowanych], Netease, 263 and other local companies the challenge of real-time communication tools. Final, Shang Yang did not like the business of technology, like its name

case features: the first in Japan, Chinese mainland companies listed but was ordered to withdraw from the market
VC lesson: the executives of large companies, start-ups are not necessarily doing the leader
Asian Interactive Media
Shang Yang Technology

in Tokyo as the first Chinese mainland enterprises listed on the Exchange, the Asian Interactive Media Ltd in September 20, 2008 delisting, the listing than a year ago, had a greater influence and visibility, constitute the Chinese companies in overseas in recent years, the worst effects of capital markets. This event is a by-product of heavyweights to lead its investment Sequoia Capital China Fund, co-founder - sail the sadly leave, even away from the VC industry.
Etang born too great, to die is not glorious, can only be said to be flat, or even miserable. Other site is still somewhat dead assets acquired by other companies, perhaps in training came back to live after the opportunity, but Etang is reduced to no renew the domain name in the end reduced to auction. Etang can be said of China's Internet does not make any contribution worth mentioning, perhaps the only contribution is to provide an extremely bad investment case. It is born of the noble golden spoon his mouth, tens of millions of dollars in return for only a sigh.
2002, the Fang Xingdong create a blog network, the predecessor (blog of China), 3 years after the Web site maintained growth of more than 30% per month, ranking soared to more than 60. And in 2004, Mr. Chen won the grand founder and partner of SAIF's $ 500,000 sheep East angel investment. September 2005, Fang Xingdong and from leading venture capital firm Granite Global Ventures, Mobius Venture Capital, Softbank, and Bessemer Venture Partner, where financing $ 10,000,000,[link widoczny dla zalogowanych], and triggered a wave of Chinese investment in Web2.0. Then active in China's VC if they do not know Blog, Podcast, RSS, P2P and other terms, do not look at blog, podcasts, videos, friends and other projects is a sign of outdated.
Shang Yang Technology was established in early 2003, since the since the birth of a dazzling aura enveloped.

Shang Yang was the U.S.
case characteristics: the largest amount of China's first round of financing, joint ventures were the most cases
VC lesson: the election of the runway, but also to select the athletes
Case features: China Venture Capital of the most fire cases
later, it was revealed the real reason for the failure PPG: Liang, founder of the surface to do e-commerce market, but the supporting logistics and warehousing are all his own company, or indirectly associated with him, he kept playing to the companies money, the investor's money, disguised as a fee to enter his own name. Transfer the money away, Liang was gone too. He had planned from the beginning, ready to misappropriating, he is smart, diligent, execution enough, but the starting point is impure.
PPG mode VANCL mimic the development of one very good, it can be said, PPG mode vitality is indisputable. The success of a company, business model which is a part, but more important is the implementation of the trader in this business model. PPG failed, wrong is the people rather than the business model.
PPG
entrepreneurs learned: overseas listed companies, investors and domestic investors can not so easily bullied VC
case characteristics: the maximum amount of the financing of China's Internet industry, the case
entrepreneurs learned: Do not underestimate the giants the advantage
In fact, as early as shortly after the blog network financing, Sina blog on high-profile launch of its public beta, to the end of 2006, represented by Sina blog portal has been completely beyond the power of blog networks and other emerging verticals. Subsequently, the blog has almost become a portal of any standard configuration, the portal easily copied Fang Xingdong are hard to explore and open up out of the road. Still later, Facebook, schools, 51 social networking sites such as SNS began to steal the show on the blog can not be underestimated the impact of the formation. Users attention and capital markets for the blog also started cold.

Etang claim to be not just Internet companies, but also Etang is a generation
2009 year-end, once known as the PPG headquarters has long been deserted, in ruins, the wall of the court ruling shows the implementation of PPG has been closed down, many consumers can not get the goods after payment, which will be PPG angrily called the . And then, PPG can be called the only remaining PPG total number of well-known VC from the above obtained 5,000 million dollars of investment, completely closed down also means that 5,000 million dollars down the drain. Sohu IT Internet Conference in 2009 was selected on 5-year failure to invest in the site, PPG top of the list, becoming the largest investment in recent years, China's Internet joke.
launch of the GEM, so that a group of entrepreneurs under the fluorescent lights shine, but also to a number of potential venture capital firm which earned pours, fame and fortune, which is to accelerate venture capital in China development. But look back to those failed cases, may give entrepreneurs and investors to give the impression that more memory and thinking.
Fang Xingdong, a name in the Chinese Internet sector is Ruleiguaner, he has a
2005 年 9 months Etang had decided to overthrow the previous development model, and the line was all the rage in the Web2.0, launched a hompy.cn personal virtual community site. Then, in addition to Etang-mail and a few other pages other than reservations, Etang all the other pages and traffic shifted to the new site hompy.cn, glory of the Etang site so transformed into a new web2.0 site. In 2006, Etang SP its best assets (license resources) fire sale to companies in exchange for the odd tiger 100 million, tried to do in the hompy.cn last struggle. However, hompy.cn billion in 2008, Tang has been closed only a shell company, the former
Asia interactive media
PPG, 2005 年 10 was established, the business model is selling shirts through the Internet. Than assets, to reduce the concept of circulation, with bombardment of television, outdoor advertising, quickly established a market leader for PPG's position, all over the world are smile.
2007 年顶, PPG has already begun by the media disclosed some problems, such as outstanding purchase price, the quality of goods complaints, etc, but still subject to a number of PPG family tradition sought after investment institutions, investment companies fight off three other competitors mountains to the PPG cast more than 3,000 million dollars. Hill claimed that the three investment options PPG is because it is optimistic about its market model and team, and revealed that PPG has been planned for early 2009 to the U.S. Nasdaq market.

blog network not only facing a funding strand breaks, business unsustainable, while also shrinking the business user a lot of loss. To overcome adversity, in 2008, the blog network's blog brewing to China and bokee split into two independent companies, were turned to high-end spin-off after the media and the SNS. However, the same year in October blog network and close involvement in crisis layoffs, announced that all employees are free to leave, you can stay, but did not pay, a move seen as a direct declaration of dissolution with the blog network is no different.

reduced to the point where, according to informed sources, is a management problem. First, the company re-development, light market, the market can not catch, and R & D, the first phase of funding runs out, it has not a few decent products; Second, internal gang serious division among their own way. Meanwhile, staff from the top to the management team to bring the old unit, has been to stay in Shenzhen, is out of control.
Lip-Bu Tan of Walden International's rich in the investment field of investment experience, Zheng Changxing and other more is the star level, Shi Zhanpai management team,[link widoczny dla zalogowanych], and more than a dozen well-known investment companies large capital injection sufficient to show that China's telecommunications market space and appeal. These positive factors together, contrasting the more unfortunate in this case.

blog network
1999, the first time on the eve of the Internet bubble burst, just won the Harvard Business School MBA's Tanghai Song Tang created a billion company, the With an attractive business plan Etang from two leading U.S. venture capital DFJ, SevinRosen two hands to get a total of 5,000 million dollars in financing. Until today, but it is still the largest amount of China's Internet sector is one case of private financing.
case characteristics: the flag of the Chinese Internet web2.0
2005 years in October, the company was Sequoia Capital's investment. At Sequoia Capital, Asia has incorporated interactive media, including Nomura Securities in Singapore (holders of the issued shares of 38.89%), Merrill Lynch Japan Securities Company (11.88%), Japan's largest advertising agency Dentsu (2.70%) NTT Mobile Communications Corporation, Japan's largest satellite communications company JSAT, Itochu Itochu, Japan and other well-known financial, advertising companies. To the IPO, Sequoia Capital, the company's total share capital of 11.56%, Zhang Fan Ren Yazhou also a director of interactive media. Indeed, the Asian media is Sequoia Capital China led investment in the country after the first item.
exit was triggered by the Asian interactive media because of the accounting firm refused to audit opinions issued 2007 annual report, and its CEO Cui Jianping exposed misappropriation of company assets scandal. Cui without the consent of the Board of Directors, will the Bank of China Wide Web's 106.9 million yuan of deposits for third-party company, Beijing Science and Technology Development Corporation Dolphin debt as collateral, which is 103 million yuan from the bank loans, and 1,800 million dolphins have been used to repay part of the loan technology, while the remaining funds or would not be recovered.